Market Survey: 41% of Americans Not Interested in Investing in Crypto

Aug 12, 2018 at 10:09 // News

A recently conducted survey by Harris Insights, an analytics firm, discovered that 41% of Americans aren't interested in investing in Cryptos such as Bitcoin, Ethereum, and Ripple, as they believe that nothing could get them to invest their income in the crypto market.

Fortune indicated that the survey was entirely commissioned by Crypto App, Gem, which was seeking to know what could influence investors into the Crypto industry. While 41% rejected cryptocurrency, 50% indicated they would be willing and able to invest.

Get Rich Quickly

The survey that was conducted, polled 2,000 adults across the country, and further showed only 8% of Americans are already investing in Cryptos. According to Fortune, the figure is decorously minimal compared to 52% of Americans who own stocks.

The survey also revealed that those who earn more than $100,000 annually are less likely to make investments in Cryptos, with only 6% owning Cryptocurrencies. 11% of those Americans earning between $50,000 - $74,900 annually unveiled they own Cryptos, while 7% is for those that earn less than $50,000 annually.

Micah Winkelspecht, CEO and founder of Gem, while commenting on these findings, stated:

“We find that younger people with less income are more willing to put money in crypto. My guess is that crypto is of the digital age. And the younger generation is of the digital age and used to doing everything on the internet.”

Micah said that lower income households may be more prone to make investments in Cryptos because of a "get rich quick" mentality. The Crypto industry is "still in its Wild West Phase," according to Micah, and those who have a lot of money have a lot to protect, and because of that, they aren't willing at all to risk it.